they can't be too far behind the ball. charles: you are a little cautious. where are you now? >> still cautious. you know, the one thing i have to recognize -- charles: we have to leave it there. >> okay. [laughter] charles: we appreciate it. liz, we're down 27 points, but your hour is always crazy. liz: you know, that's for the dow, but hello, the s&p. i mean this one could be a squeaker, folks. the s&p 500 did hit a new intraday high, but that was hours ago. right now it is unclear if the s&p can lock in its second straight record-setting close. investors are treading very cautiously in this final hour of trade ahead of tomorrow's federal reserve decision on whether to cut rates for a third time this year. so look at the s&p. it's down about 2 and 2/3 points. ok okay, not a lot, but it is still in the red. the dow which has been up and been down. right now it is down 26. but the nasdaq has been having a torturous tuesday all day long, losing 43 points.

it is time for what ifs. what if the fed decides not to break out the scissors, could that spark an october surprise like the one 90 years ago today? we have the economists who is predicting just that. he's about to tell you why he says you need to prepare now because he believes the fed will not cut rates tomorrow. he's coming up in just a second. on capitol hill, two deadly airline crashes taking center stage as the boeing ceo faces blistering attacks by congress and the families of victims who died in the 737 max jet disaster. >> i don't know what he feels inside. i get my solace from my friends and family, not from the people who caused the death of my sister and the other 346 people. liz: and that was only the beginning. former ntsb chairman james hall here exclusively to tell us if he thinks someone at boeing could face prison for boeing's

shortcomings now with what was revealed today. plus, now wildfire warnings in california, dust storms kicking up there. sizzle or fizzle? charlie breaks it on t-mobile's new high powered teammate. we're less than an hour to the closing bell. let's start "the claman countdown". i've got to pull up fiat chrysler stock which is jumping 7% on the breaking news. the "wall street journal" is reporting that fiat chrysler are in talks to combine in all share merger. if this were to go through, the deal would result in a 50 billion dollars auto giant. you know, it is not too far from the market cap of ford. it makes vehicles sold under brands. earlier this year, fiat chrysler

dropped plans to merge we with renault. -- merge with renault. right now chrysler as i said up 7%. peugeot up six and a quarter percent. if you google alphabet earnings, the first thing you will see right now is the company reported worse than expected third quarter numbers. they splurged on expenses to expand its business. that's not squaring with investors tat moment. -- at the moment. that t stock is down 2 1/2%. merck and pfizer both posted stronger than expected result. merck up 3%. pfizer up 1%. both companies headline cancer treatments helped raise earnings guidance. pfizer needs to bump more though, its stock is down 15% year over year while merck's is up 15% year over year. xerox stocks photo copying its gains jumping by 11% after the

office equipment maker raised full year guidance and says it plans to retain its consumer finance business. it will not sell it. amazon sending shockwaves through the grocery world at this hour after making its delivery service free for prime members in the u.s., free delivery. when we flip over to amazon, it is slightly down 2/3 of a percent at the moment. but members in the u.s. will have the portal give between one and two-hour delivery windows again for free and they will deliver groceries from both amazon fresh and whole foods. you can see the competitors here, kroger and wal-mart, we have investors emptying their shopping carts on that news. wal-mart down 1 1/2%. kroger down 2 1/2%. grub hub, ugly picture here, folks, blaming disappointing earnings and guidance on promiscuous diners who according to the ceo are cheating on grub

hub. they're double and triple dipping, ordering from multiple competing food delivery services. that stock is down 41%. on top of that, the takeout service got a second beatdown by bank of america and oppenheimer flipping their ratings from buy to a sell for grub hub. let me give you a broad picture here. there have only been a handful of days in the history of the stock market that qualify as crashes. 90 years ago today was easily the worst in economic history. october 29th, 1929, stocks collapsed under the weight of debt and ill liquid bank loans. not only did that trigger the great depression, but from that event the term october surprise came into existence. is the federal reserve about to spark this year's october surprise? now, if you look at the futures, the answer is no. the markets are pricing in a much-expected 97.1% odds of quarter point cut.

but one wall street outlier put out a note this morning that suddenly the talk of the town, he says the fed will not cut tomorrow and that could be a problem. jeffries money market economist thomas simmons made the contrarian call. he is joining us right now along with our floor show traders john korpina and phil flynn. we are fewer than 24 hours from the federal reserve announcement you are predicting the fed will cause the market temper tantrum by not lowering rates, why? >>i think the decision is a lot closer than it was the july and september meetings. ahead of those meetings, the fed was clear about their message. fed chairman powell spoke publicly and signalled the fed was cutting rates. this time he didn't speak ahead of the meeting. everybody else has been a lot more wishy-washy in their comments, open minded about the meeting, agnostic about rate cuts, these sorts of things. the global risks that faced the economy that predicated the mid cycle adjustment have abated quite a bit over the last few months.

liz: which ones. >> the worst outp comes of brexit look much less likely at this point than they did in august for instance. there was also another chance of increase of tariffs with china. the headlines look like we're close to signing a phase one deal with china. liz: that's true. the president said we're ahead of schedule, phil flynn. could thomas be correct here? even though the market predicts something, the fed could say it is really inappropriate because you have multiple voices in there, and there are some so called hawks. >> if tom gets this right, does he do lottery tickets as well? i want him to pick my numbers tomorrow. [laughter] >> you know, i mean, i don't think there's really a chance that that will happen. i will tell you a couple reasons. he may be right about some of the fundamental reasons why you may not want to cut rates at this time. you know, the brexit situation, obviously looks a little bit better. the potential on u.s. china

trade. but the damage it would do to the federal reserve's credibility when they have been signalling this rate cut and to surprise the market at this point would be very ill-advised. he's right. that would be an october surprise that you wouldn't want to forget about. i would hate to see donald trump's twitter account after that happened. you would have to be very careful. liz: that would be a problem. john, there's a serious side to this. if thomas is correct, you know, scares like that could possibly trigger issues that are similar to big market sell offs or dare i say crashes. we were just showing video of the 1929 crash 90 years ago today. it's something that people do not want to remember, but at their peril, they should. do you see foresee anything like that happening? >> yeah, liz, you know, traders like transparency. they like information. they like knowing that something is priced into the market. so if something goes the complete opposite way, clearly that's going to cause a lot of

fluctuations and volatility in the markets. do i think that follows through for multiple sessions? i don't. tom's outlook is right as far as why the fed should not cut rates, but phil is also right, this would put the fed in such a bad position that they somewhat predicted this blueprint all along, getting us down the story line and we're getting close to the end of the book, if they deviate from there, it will shake things all across. across the board, things are getting better so the fed does have that ammunition that they might hold on. to it is not going to happen yet. -- hold on to, it is not going to happen yet. liz: what's going to happen tomorrow at this time, thomas? what are you going to be thinking? >> well, i'm hopefully thinking that i'm the only one who got it right. [laughter] >> one of the big take aways that i would take is that the fed at this point has broken the cycle of persistent rolling over expectations that we're going to get another cut and another cut and another cut because if the

fed keeps delivering on the market expectations, the market then doesn't sort of reassess the outlook and say okay maybe we won't get a cut the next time. the next one comes immediately priced in. liz: i'm not sure john and phil want you to be right. >> nobody does. liz: thomas, thank you. we will see because right here on fox business all day tomorrow, we'll be walking you, running you up to the big moment. that of course will be the federal reserve's decision at 2:00 p.m. eastern, but then remember, the fed speaks in the 3:00 p.m. hour, during "the claman countdown". you have to hear what jay powell says because sometimes it is the q&a needless to say that matters more. earlier than that we get 8:30 a.m. eastern third quarter gdp, apple earnings after the bell. don't miss a second of it. lock it in, fox business invested in you. breaking news, out in the california area, and the wildfires are just horrific. look at this video. the numbers are coming in now,

california's largest utility says at this hour 1 million people still remain out power. more than 10,000 homes and businesses have had to be evacuated, in just west los angeles alone. pg&e intentionally cut electricity as wildfires tear across. this is a live picture. you can see the ridge there on the mountains. this is middletown, california, more northern california, and we do have so many people still left in the dark completely helpless. they are quote unlikely according to the utility to get their power restored, due to strong winds that are ramping up. now reports, are you ready for this? -- dust storms and smoke from the wildfires are choking the san francisco bay area. parts of l.a. and san joaquin valley causing extremely dangerous air conditions. let's get to fox news channel's robert gray who is live on the ground for us in california. i know it is very busy there. thank you for interrupting. as long as you're safe, tell us what's happening there in

brentwood. >> thank you very much, liz. we're looking at the devastation already caused by the getty fire. you can see, you know, it started a couple miles to the east of us, by the getty center museum and the 405, then high winds pushing it across the canyon scorching the earth along the way, damaging and destroying more than a dozen homes here in the brentwood neighborhood as you mentioned on the west side. 20,000 people still evacuated from the area. the power has been cut here, but since the folks are not here, it is not obviously affecting them as much. obviously the fire officials concerned about the high winds we're expecting creating what they call an extremely critical fire weather condition here in los angeles. the fire officials telling me they're concerned some smoldering embers could blow 1 to 2 miles west of here and create a fire zone from where i'm standing 4 to 4 1/2 miles west into the pacific ocean. a lot of concern about that here. pg&e cutting off power to as many as million and a half

people up north. the fire continuing to blaze there, been fuelled by winds as high as 95 miles-per-hour. they are under high wind advisory right now as well. that's obviously making it very difficult for them to contain there. a lot of the farmers and folks in the grape growing and the wine business have bought generators, i'm told, because they learned from the devastating fires two years ago that they needed them. they got most of the grapes in, but there's a lot of concern obviously about their employees and the tasting rooms and their homes as well up there. back to you. liz: it is absolutely nightmarish. if we could peek over your shoulder one more time, robert, because we're looking at pg&e corporation and that stock is up 30%. it is a bit of a rebound, but these are high end homes that are very close to malibu and of course the ocean as you said. >> yeah, absolutely. you know, we are just a couple miles from the motion. as i talked to them -- we are just a couple miles from the

ocean. as i talked to them, they are harkening back to a fire in the 60 that did burn to the ocean. that's what they are striving to prevent. liz: robert gray, thank you very much. federal reserve fears not preventing one name from going higher with the closing bell ringing in about 47 minutes. eggo waffle kelloggs popping at this hour on higher third quarter sales fuelled by pop tarts, its snack foods and its frozen food units including its growing plant-based catalog. we have kellogg as an all star right now, up 4% at the moment. but increasing competition from the likes of kellogg, one of the ingredients contributing to an all out fright fest in shares of fake meat maker beyond meat, but up next we have the early believer in beyond who says the year's biggest and most successful ipo can and will get

its sizzle back despite the loss of appetite. the case for an above and beyond future is next on "the claman countdown". the dow is down 15 points. i recently spoke to a group of students about being a scientist at 3m. i wanted them to know that innovation is not just about that one 'a-ha' moment. science is a process. it takes time, dedication. it's a journey. we're constantly asking ourselves, 'how can we do things better and better?' what we make has to work. we strive to protect you. at 3m, we're in pursuit of solutions that make people's lives better.

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liz: we have breaking news. this just coming in from fox news. the text of the house's impeachment resolution is now out. house democrats are filing the resolution just moments ago. now, in the memo, certain committees directed to continue their ongoing investigations as part of the existing inquiry to see whether the grounds exist for the full house -- again, this is just that portion of the house, but for the full house to exercise its power to impeach president trump. those committees include the

permanent select complit tee on intelligence -- committee on intelligence, also financial services, foreign affairs, oversight and ways and means committees. this is a big one. we will keep you posted on any new developments regarding. that let's get to one of the most sizzling hot ipos of the entire year, how sizzling? just two months after its may ipo priced at $25, beyond meats soared 859% in july to $239 intraday. look at it now. just four months later, shares are tumbling today by 22%. that price is now at $81.76 per share. this is despite what seemed to be a very strong earnings report and some big name partners, like mcdonald's jumping on the plant-based bandwagon. why is the street going cold on the one-time red hot stock? well, we've got worries over high production costs and valuations certainly helping to

fizzle. there's more to this, perhaps the biggest fear factor is on your screen, increasing competition. jpmorgan and credit suisse among the brokerages pointed to other offerings like kellogg's incognito and the entry impossible foods into the retail market as food for thought on brand's future. all of this as the ipo-lock up period comes to an end for beyond's earliest investors, which means they are today allowed to finally sell their shares and make some profits. that is very much in part what's driving the shares into the ground right now, but despite this recipe for worry, we've got the man who says the fake meat maker can still go above and beyond in the long run. he is grizzle president thomas george joining us now on a fox business exclusive. thomas, you have got shares. what are you doing with them? >> yeah, we've got shares, we're long beyond meat. we like it. liz: why? >> the main reason here is you'd

be hard-pressed to find a company that can grow at this kind of growth rate. it is growing at 200% top line and it's making a profit. it is unheard of. when we think of competition, you know, you alluded to that point, when we think about competition for fake meat, we think there's only one competitor and that's impossible. long-term we see this as a branded category and we see two competitors, impossible and beyond. lots to go around. liz: okay, i get that. i want to know where you bought it. you bought it on the first day of the ipo; that is correct? at what price? >> yes, we were in around 65, 70 bucks. we were buying around that area. where we've really made money was on the calls. we were aggressive on the calls at that point, and we sold those calls at $210. so that, you know, that really made the year for us. we understood that there was going to be a lot of near-term volatility on the name. so from our perspective, we still see the long-term story playing out.

there's two windows you look through the stock for sure. liz: what you do at grizzle is you do look at sort of millennial momentum type of stocks, everything from i would imagine the real real, peloton, cloud flair, uber which have had mixed results; right? then you try to protect both investors old and young from making mistakes by get toog excited about a hot -- by getting too excited about a hot product. arefully -- are any of these you like in addition to beyond meat? >> you have listed most of them. we've covered them all. we think slack is real. it's 2.0. it is a product for office people like me. liz: one last quick question, air bnb, casper the mattress company and post mates those are the up coming ipos people are excited about. again these are very much millennial type of names. do you look forward to purchasing any of these or would you urge caution at the moment? >> i'm very excited to get my

hands on that air bnb in terms of understanding the profitability underlying that. i think that's a real business there. the others not so much. liz: yeah, i would say airbnb is really established, has a big customer base. thomas george of grizzle, good to see you. thank you very much. he's holding on to his beyond meat shares just as they fall 20%. >> thank you. liz: autonation is sputtering right now. we have the closing bell ringing in 37 minutes. the nation's largest car dealership chain tumbling after reporting earnings fell 11% last quarter. the company was also hit by 10 million dollars in severance costs from its ceo change. autonation is down about 2% right now. it's at $50.79. up next, speaking of autos, major carmakers turning the keys er california's strict auto emissions rules. jeff flock has the insight on the power players sure to rev this up.

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liz: we've had a lot of auto companies taking sides in the emissions battle in the state of california. now three heavy hitters of the auto world have joined with the trump administration when it comes to relaxing emission standards in the state. gm fiat chrysler and toyota now say they back the president in a lawsuit involving the state of california. the state would like to set its own fuel efficiency rules, tighter ones for vehicles because they have different needs regarding the smog issues in the state, but they do join a long list of carmakers including aston martin, ferrari, hyundai and kia, a lot of names as opposed to the four companies on the right which are siding with the state of california, that's bmw, ford, honda, and volkswagen. let me get to jeff flock who is joining us for a gm dealership

in naperville, illinois. what's behind the decision finally by gm to pick a side here, jeff? >> well, you know, they really, i don't think, liz want to pick a side. here's what they want. this is auto row here in naperville. we have the cadillac dealership, toyota across the street, chevrolet down the block. all they want is clarity. they don't want to have one state or a group of states say you have to do one thing and the federal government say you have to do another thing. they can't be making cars with different mpgs to meet different requirements. it's crazy. that's why 21 of the states are now suing the federal government over this potential waiver, california and 21 other states. here's what the attorney general of the state of california had to say about this. while the white house clings to the past, automakers and american families embrace cleaner cars. indeed, 21 states, tougher

regulations but mary barra who has had her share of difficulty with president trump now throwing in along with as you point out toyota and several others saying listen, if the federal government is going to set the one standard, that's fine. we're fine with that. we just want to know what that is. some other good news for gm today, earnings, they beat, but the guidance going forward as a result of the strike, not so good. revised guidance down $2 a share, essentially, earnings per share for the forecast for the year. couple other tidbits out of the conference all with mary barra today, inventories low. cadillac dealership here, new ones, the chevy dealer though down the block inventory is very low there. she also said that if she was asked, will gm spend more in the next five years on ezs or gas

powered vehicles? she said gm would spend more on evs, like it or not, they don't pollute. liz: i have a hybrid. i love it. >> sure, no smog for you. liz: thanks, jeff, good to see you. jeff flock. from emissions road rage to sky high anger on capitol hill, the closing bell is ringing in 30 minutes. we have red on the screen. s&p down 1. the nasdaq lower by 41. tears, family photos, cover-up claims and accusations of flying coffins of death. just some of the verbal and visual bombs hurled at boeing's ceo dennis muilenberg. we are about to let you hear some of the congressional firing squad attacks on the ceo who appeared before congress for the first time since the deadly air crashes that grounded the entire

737 max fleet. former ntsb james hall is here and what he says about the hearings and whether handcuffs might be the ultimate punishment for leadership or lack thereof. that's next on "the claman countdown". brighthouse smartcare℠ is a hybrid life insurance and long-term care product. it protects your family while providing long-term care coverage, should you need it. so you can explore all the amazing things ahead. talk to your advisor about brighthouse smartcare. brighthouse financial. build for what's ahead℠

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down just slightly, pending news. we will keep one eye on that and will continue talking about here but j&j halted for the moment. no other news available just yet. now this. >> you of told this committee -- you have told this committee and told me half truths over and over again including in that meeting. this is why i'm so upset. you haven't told the whole truth and these families are suffering because of it. >> dennis muilenberg being rebuked today. boeing stock which had been up more than 2% began falling intraday from its highs as you see right there, that dip. right as she began her questioning, it got worse, though. even though it's recovered, it got worse when than infuriated senator ted cruz doubled down on muilenberg. what cruz was doing was he referred to pretty damming

internal instant messages between boeing test pilots who said to each other two years ago that the 737 safety system flaws were egregious. >> 346 people are dead because what these chief pilots described as egregious and crazy, that's their language, that's boeing's internal language in this exchange. mr. muilenberg, how in the hell did nobody bring this to your attention in february when you produced this department of justice, how did you just read this a couple weeks ago? did you read this document, and how did your team not put it in front of you, run in with their hair on fire saying we've got a real problem here? how did that not happen? liz: james hall is the former chairman of the national transportation safety board, the government agency responsible for investigations into civil

aircraft accidents. james, to that particular exchange, dennis muilenberg insisted he never read the texts until very recently, even though boeing knew of them as early as february, after the first crash a year ago. what do you make of muilenberg's claim that he had not read these texts at all until recently? >> i would imagine that boeing's stockholders are looking to their new ceo and their newly-created safety committee which they did not have in place before to make the determination whether this individual is the person who created the culture that has resulted in some of the worst chapters in aviation history, whether this person is the person to carry bowing into the future. i would have serious reservations. liz: you have serious reservations. he kept saying well, other people took care of that. it was those text messages from test pilots two years ago.

i mean, the actual transcript is unbelievable. they're terrified. they said we can't control this thing, and that was just in the testing stage. that was safety issues. what came out of this today that you feel is important? >> well, i just think it upds scores the fact that -- i just think it underscores the fact that boeing has not been transparent on safety issues, and the faa has not had the leadership to call boeing out, and now you have a situation in which the head of the faa doesn't even know about information that's related to the safety of the flying public, and i remind you that the flying public puts in over 3 billion dollars in the u.s. alone into the aviation system to support the airfields and support the infrastructure that supports boeing. they deserve the truth. liz: well, do you feel that today they got any closer to the truth? sometimes these committees and these hearings don't really

bring out a lot. i was pretty impressed for, you know, not often that people are impressed with congressional members who are really hammering somebody, but, you know, there are hundreds of people dead here, and the stuff just keeps coming out. whistle-blowers at boeing. what is the future for this company? how do they get their brand back? >> well, the american people need to look to members of congress who they pay and responsible under the government structure for the accountability over the faa and as a result of the certification of this aircraft. and a lot of the leeway that we've given to boeing to self-certify on this aircraft was given by the members of congress. so i'm very pleased to see them actively involved, and hopefully expressing their emotions because this has been a horrible tragedy. it's impacted the worldwide reputation of the faa and our very large employer boeing

aircraft corporation. liz: yeah, we're looking at family members of victims who stood there silently holding up the pictures of their relatives who were killed, and, you know, the fact that -- here's the problem, we understand that mistakes happen, especially when companies are making things and manufacturing, okay, we get that, but having known this two years ago, before both crashes, and then boeing understanding that there was a serious problem becomes an issue. the last time we spoke, about the mcas system, the sensors that were apparently malfunctioning all over the place and causing the nose to dip down, you said this was obviously going to turn into a criminal matter. tremendous loss of life because that same mcas system went crazy on two other flights with passengers, not in the simulator. who in your opinion will be held accountable for what has happened? >> well, that's up to the justice officials, but at the end of the day, somebody needs to answer the question, who made the decision to only put one

sensor on some of the aircraft while aircraft flying in the united states and other countries had two sensors feeding the mcas system? at the same time, boeing had set up a company to sell safety. they were selling the second sensor on the aircraft. that is what is written in the seattle times. you know, these are things that obviously money became more important than safety. that can't happen in aviation. liz: i'm going to get yelled at because we're run aring out of time. -- we're rung -- we're running out of time. i do have to ask you, boeing tried to blame the pilots. what do you think of that now? >> i think it was shameful. at the same time they didn't give the faa the information at the time myself and others were calling for the grounding of the aircraft to put the aircraft on the ground and only in the last couple of weeks that the

information that's referred to in the hearing come out. so we don't know what else may be there or what else may be as part of the criminal investigation. liz: former ntsb chair james hall, thank you very much. >> thank you. liz: boeing stock up 2 1/3%. the dow, though, down 27 points. james hall, we thank you. we are coming right back. don't go away. with charlie gasparino. our love is one of a kind strong brilliant unbreakable ♪ engagement rings now 20- 40 percent off shop unique bridal styles at zales, the diamond store as a doctor, i agree with cdc guidance. i recommend topical pain relievers first... like salonpas patch large.

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liz: wanted to update you on johnson and johnson stock. it's still halted. we're not going to speculate. there have been a lot of issues swirling around this company the past few months. as soon as it begins trading again, we will interrupt and let you know. connell mcshane, what do you have coming up on "after the bell"? connell: mixing in with a little politics. tloor -- there are fears on the

left and the right, with the right worrying about a wipe out, losing the house the senate and even the white house in 2020. we will talk about how viable that fear really is. and on the left the concern is joe biden specific. a report today that he could come in third or even fourth in iowa, and what that would mean for the campaign. that and all the closing numbers on wall street. it's cheryl and me after the bell at the top of the hour. liz: thank you, connell. the dow is still struggling down about 22 points. the s&p lower by 3. t-mobile phoning in higher subscriber numbers in its latest report, despite its merger with sprint still hanging on the line. up next, charlie gasparino with new inside details on the efforts being made to clear up all the legal static from the blue and red states fighting against the 26 billion dollars tie-up. charlie is about to break it. you can't miss that next on "the

claman countdown".

liz: j&j still halted. in the meantime, a little known stake holder may play an outsized role in the state attorney general's lawsuit against t-mobile sprint. charlie gasparino has exclusive info on what's happening behind the scenes. >> you want to know why this isn't dismissed by now why the state ags are still pushing ahead and likely to push ahead through trial which is towards the end of the year. there is power behind the state ag, the communication workers of america which have donated heavily to the state ags, of new york and california, donated heavily to both of their

campaigns and they are against this merger in a big way. now why? for obvious reasons. sprint t-mobile not unionized. at&t, verizon are unionized. there we go. this is the statement from the cwa which essentially confirms our story. they are considering jobs, wages, impact the consumers, engaged in regulatory issues around the merger at the fcc, doj along with our allies. they are basically in favor -- basically saying they have supported them both throughout their career. this is the big thing. if you talk to the people at sprint t-mobile, they will tell you undoubtedly that at&t and verizon are also pushing the cwa to oppose this merger. it is ganging up on them from outside and using the sort of political apparatus to break this deal up. the deal, you know, has been approved by the justice department. it still faces a state ag

lawsuit. these are the two biggest state ags. they are unlikely now, i mean once you know who the power is behind them, you know they are unlikely to drop this thing. if you are a shareholder in these companies, there is a threat. it is more than theoretical that they will be able to blow this thing up because i don't think -- given the fact that, you know, cwa has so much both in california and new york, i just don't think that becerra or james can walk away from this. i don't think there will be a settlement here. liz: can i let you know, j&j is still halted, but there are headlines coming through specifically right now, and it is actually good news. you know, they had the situation where a lot of the -- a lot, meaning a tranche of this talcum powder tested positive for asbestos. according to the wires, 15 tests from same bottles of j&j baby powder were previously tested by the fda find no asbestos, no asbestos and that johnson and johnson had more than 60 new

tests of recalled baby powder, conducted by two third party labs, and no asbestos. >> let's just say there's no asbestos in this stuff. how much market cap got wiped out of the stock over this story? i mean we're talking -- liz: first of all, why would asbestos be in anything that a consumer is buying in the first place? >> listen, i had friends that survived 9/11, asbestos flew all over the place. a lot of them got sick and died. it is horrible stuff. but anyway, getting back to this story. liz: please. >> this deal, if you are a shareholder on either of these companies keep an eye on the lawsuit. it ain't going away. i can't tell you who is going to win. there's more than a theoretical chance given the union fire power behind both james and becerra. liz: charlie, thank you. good stuff, charlie gasparino.

we are coming right back. we do have red on the screen. the dow still down, not by much, is a point -- 15 points, stay tuned. so employees like sarah can achieve what they're working for. . . driverless cars,

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no matter what you trade, at fidelity you'll pay no commission for online u.s. equity trades. liz: now we have more on the johnson & johnson situation regarding the baby powder. yes the shares are still halted. as we told you right before the break the company came out and said 15 new tests of the baby powder that had previously been tested by the fda, that had initially found asbestos in those bottles, have now showed no asbestos. the company now going on to say they brought in an additional 48 tests from the same samples that had initially tested positive for asbestos and all of those tested negative. now it turns out they say, that when the original testing was done. the testers used an auxiliary

room in the lab that d.v. -- deviated from protocol that could have contaminated baby powder. most likely the stock will not reopen today. only 2 1/2 minutes before the closing bell rings. for that, bring in portfolio, jordan kimmel. jordan, we're 22 hours away from the federal reserve announcing whether they cut interest rates. you say you have stocks that do well no matter what the fed does. >> everyone is income starved. that is why we started this income with growth account. the idea is not looking for highest dividends, but, liz, looking for companies that grow their dividends every year. so we have this portfolio very diversified with a 5% current yield that the 52 companies actually have a growth rate of their dividend of 6%. so the companies i'm showing you today are in a sustainable growth period where you know, it is durable, right now. we have to get more solar.

we have to get more wind. liz: look at patterns here. pattern has 6.2% dividend. hannon armstrong, 6.2%, terraform, 9. -- 4.9%, you're getting paid no matter what happens. >> these industries have to grow. 80% of the portfolio has increases every year. they can't increase the dividend without going up in price over time. i think what is really important right now, not to stretch it into bonds and leverage bond yields. too many times, people get equity returns from the bond market by leveraging them. no leverage. you don't need the highest dividend. you need companies that can grow the dividends year after year. that is what this account is. liz: 10 seconds to go here. we'll not see a second record in a row for the s&p. nice move over the past year. >> just missed. the advance-decline line looks healthy. people need to sit back let the

market happen. liz: jordan kimmel. good friend of the show. thank you so much. [closing bell rings] green not on the screen for the dow and nasdaq. guess what, russell is closing up five points. that will do it for the "claman countdown". cheryl: we'll take it, liz. all three averages ending as investors digest another round of earnings ahead of a big day for your money. the dow ending down by 20 points. after a volatile day of gains and losses. i'm cheryl casone in for melissa francis day, i'm connell mcshane. s&p falls just shy of a record. cheryl: